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When paper is substituted in the room of gold and silver money,

the quantity of the materials, tools, and maintenance, which the

whole circulating capital can supply, may be increased by the

whole value of gold and silver which used to be employed in

purchasing them. The whole value of the great wheel of

circulation and distribution is added to the goods which are

circulated and distributed by means of it. The operation, in some

measure, resembles that of the undertaker of some great work,

who, in consequence of some improvement in mechanics, takes down

his old machinery, and adds the difference between its price and

that of the new to his circulating capital, to the fund from

which he furnishes materials and wages to his workmen.